Sensex Opens Flat; Tata Steel & Hindalco Industries Plunge Over 5%

Asian share markets are trading on a cautious note today as investors weighed the Fed minutes that flagged the possibility of a debate on scaling back asset purchases.

The Nikkei is trading on a flat note while the Shanghai Composite is trading lower by 0.3%. The Hang Seng is down 0.8%.

In US stock markets, Wall Street indices closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the US economy remained far from the central bank's goals.

The Dow Jones Industrial Average fell 0.5% while the Nasdaq dropped 0.1%.

Back home, Indian share markets have opened on a flat note.

A total of 32 companies, including Bosch, Havells India, Zee Entertainment Enterprises, HPCL, Brookfield India REIT, and Torrent Power are scheduled to release their quarterly earnings today.

The BSE Sensex is trading down by 61 points. Meanwhile, the NSE Nifty is trading lower by 46 points.

Titan is among the top gainers today. ONGC, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened down by 0.4% and 0.2%, respectively.

Sectoral indices are trading on a mixed note with stocks in the metal sector and the FMCG sector witnessing heavy selling pressure.

Consumer durable stocks, on the other hand, are trading in green.

Shares of Adani Transmission and Deepak Fertilizers hit their 52-week highs today.

In cryptocurrencies, Bitcoin posted a same-day plunge and a rally of about 30%. It fell to US$ 30,000 and then topped US$ 40,000 before falling again to US$ 35,500.

Ether, the second-biggest coin, sank more than 40%.

The rupee is trading at 73.18 against the US$.

Gold prices are trading down by 0.3% at Rs 48,528 per 10 grams.

Meanwhile, silver prices are trading down by 0.5% at Rs 72,057 per kg.

Among gold ETFs, Kotak Gold ETF and HDFC Gold ETF are among the top gainers today.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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